Extended Detection and Response (XDR) Market size is expected to grow from an estimated value of USD 985 million in 2022 to USD 2,358 million by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% from 2022 to 2027.
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Evolving cyber threat landscape, need for real-time monitoring, visibility, analysis, and response across security stack and shift from EDR to XDR are some of the factors that are driving the market growth.
The COVID-19 pandemic has positive impacts on the XDR market. The adoption of XDR has increased due to the rising cyber threats and incidents and the increasing trend of BYOD and WFH globally; the use of managed security and XDR has increased. Given to the pandemic, the cyberattacks have increased by 151% in 2021, an average of 270 cyberattacks per organizations. Due to this, local firms have turned to global hyper-scalers for assistance with XDR solutions and services implementation to make their operations more efficient, scalable, and secure.
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The services segment by component is projected to grow with a highest CAGR in the forecast period. The services segment has witnessed tremendous growth in recent years. Both SMEs and large enterprises are increasingly relying on XDR providers to better respond to cybersecurity incidents. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Enterprises are still flourishing in the development of skilled cybersecurity professionals. Hence, they are highly dependent on XDR for strengthening their cybersecurity capabilities.
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The cloud deployment mode in the XDR market is projected to have the larger market size. Cloud hosted deployment is also known as the SaaS model. Such deployment modes significantly reduce the cost of purchase and maintenance of hardware, as it is handled and managed by hosted providers. Additionally, organizations can scale up and down, depending on their use of services. Cloud hosted services offer pay-as-you-use pricing models to end users. Organizations are adopting hosted services, as they are easy to install and scalable.
The growing scale of cyberattacks has heightened the need for XDR solutions. Organizations are seeking out for solutions that offer better visibility into the cyber threat landscape. Organizations are considering XDR solutions as they aren’t satisfied with security outcomes from SIEM, or legacy EDR, or even MSSPs. XDR growth rate is primarily attributed to the detection of security threats not just on endpoints but also in the cloud, on mobile devices, and across user identities. Capabilities offered by XDR such as advanced analytics (AI and ML) to detect and identify complex attacks hold huge potential for the market to grow in future.
Key Players
Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US), Hunters (Israel), and Confluera (US).
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]